Boom-Bust Phases in Asset Prices and Fiscal Policy Behavior

Boom-Bust Phases in Asset Prices and Fiscal Policy Behavior
Boom and bust phases in asset prices have become a pervasive feature of macroeconomic developments in many advanced economies. This paper studies fiscal policy during boom-bust phases in asset prices and draws several conclusions. First, expansions and contractions in economic activity during such boom-bust phases tend to be highly persistent,... READ MORE...

Publication date: April 2004
ISBN 9781451847543
$15.00

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